Colombia: Manufacturing PMI ticks down in December
Business conditions in Colombia’s manufacturing sector continued to improve in December, albeit to a lesser extent than in November. The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index ticked down to 52.4 in December from 52.9 in November, thus marking the sixth consecutive month that the index remained above the critical 50-threshold which indicates an improvement in the health of the sector.
December’s moderation largely reflected ebbing growth in new orders. Moreover, sales and production growth lost strength amid the ongoing national strikes, albeit remained solid overall. Meanwhile, business confidence remained upbeat, supported by prospects of more clients, new product designs and marketing efforts in the coming year. Consequently, firms increased their staffing levels. On the price front, input cost inflation ticked up in December amid a strong U.S. dollar, while output charge inflation slowed from November’s over two-and-a-half-year high.